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GameStop tanked as much as 18% on Wednesday after the company pushed its yearly sales forecast lower and announced a decline in second-quarter revenue for nearly all of its businesses.GameStop's CEO announced a new plan to boost its operating profit by $200 million by 2021, focusing on optimizing business efficiencies and

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Michael Burry, who made millions after predicting the US housing crisis of 2008, called passive investing a "bubble" in a Bloomberg interview this week. The boss of Scion Asset Management, who was portrayed by Christian Bale in the movie adaptation of Michael Lewis' "The Big Short," has made other big calls recently. For example, he has trumpeted GameStop, water, Asian...

CHICAGO - Acting with a sense of urgency amid falling video game sales, ubiquitous strip mall retailer GameStop is pulling the plug on up to 200 stores by early 2020 - with a much larger set of closings expected within the next two years. The Texas-based retailer has about 3,800 stores in the U.S., including more than 140 in Illinois. The company did not respond to a request...

Video game retailer GameStop has seen better days. In August, the company announced a huge round of layoffs that impacted more than 100 employees, including some members of the Game Informer staff. The company's stock price is at a near all-time low, trading around $5 per share compared to more than $46 per share back in 2015. GameStop has a plan to turn thing around, and now...

Famed investor Michael Burry told Bloomberg he sees passive investment strategies as a "bubble" that ignores small-cap stocks. His comments are pegged to the fact that exchange-traded funds and index-based assets mostly focus more on bigger, more established companies. As investors find this passive investment increasingly appealing, smaller growth stocks are languishing in the...

Michael Burry is a well-known value investor and the founder of Scion Asset Management. Scion Asset Management had more than $100 in AUM in 2016 and started filing 13Fs. Unfortunately, its AUM must have declined below the $100 million reporting threshold as the fund stopped disclosing its 13F holdings in 2017. Recently he started filing 13Fs again. In the latest 13F filing...

GameStop plans to close as many as 200 stores amid declining sales, the retailer announced Wednesday. The video game, consumer electronics and gaming merchandise retailer made the announcement on a third-quarter earnings call as it revealed that hardware sales plunged 41.3% in the quarter ending Aug. 3 and overall sales fell about 14%. CEO Jim Bell expects from 180 to 200...